Porter Finance is another broker flying low under the radar. The broker is built on the PandaTS trading platform, same one as CTOption, and has been operating in a trustworthy fashion since 2014. Some advantages of the PandaTS platform include a wide range of option types, short and long term expiry, the Option Builder and of course, copy trading powered by the Binary Replicator.
Porter Finance is not trusted for the very reasons why it has shut down. It was not regulated and actively scamming clientele.
The Geek’s Full Review of Porter Finance Binary Options Broker
Porter Finance is a binary options broker built on the PandaTS trading platform. The broker is owned and operate by Oracle Stone LTD, UK registration # 09684789. Company headquarters is listed as 20-22 Wenlock Road, London, England, which is a virtual address. Oracle Stone is owned by Eduardo Rodriguez Cedillo who resides in Mexico. This broker is not regulated by CySEC.
Features of the platform include High/Low binary options, range options, one touch options, Hyper Options, the Option Builder and copy trading. High/low options have expiry running from 30 seconds (Hyper Options) all the way to 5 months from purchase. There are about 10 intraday expiries each day, as well as 30 second, 60 second, 2 minute, 5 minute and 10 minute expiry, end of day, end of tomorrow, end of the week, end of next week, end of month and on out. Touch and range options are limited to intraday expiry only.
The asset list is very good. Not only do they list a lot of assets, they actually provide them for trading unlike so many other brokers with long asset lists. There are 24 forex pairs including Bitcoin/USD, 4 commodities, 8 indices and about 50 stocks. There are not as many on the list as there are at other brokers, but like I said, the ones that are here are available to trade when the respective market is open.
Banking At Porter Finance
Banking with Porter Finance is pretty straightforward. They accept wires, credit card and Netteller, my preferred method of deposit and withdrawal with any broker. Funds are held separately in segregated accounts and withdrawals are easy. Minimum deposit is only $200 but in order to receive any perks a minimum of $1000 is required. Withdrawals process in under 3 days with funds returned to your bank/credit card within 10 days. Netteller is the fastest method, withdrawals may post to your account as soon as same day. One withdrawal per month is free, all others cost $30, even for Netteller and credit cards.
Bonuses are available, terms aren’t the best but aren’t the worst either and really depend on which bonus you take. Basic terms for a first time depositor are 30X turnover on the bonus amount and have no time limitations. No withdrawals can be made if bonuses are accepted until the turnover limit is met.
Social Trading At Porter Finance
Porter Finance supports one of the top social trading platforms on the market. It is the same system as the Binary Replicator used by CTOptions and offers another option, no pun intended, for copy trading. The system is based on a leader board. Traders are ranked by win rate, profit, number of copiers, number of trades and total score. Copiers can filter through each ranking looking for the traders with the higherst win rates, highest profit rates, the most number of copiers and the highest “score”. Scores are a ranking method that takes into account number of copiers, win rates and profit rates.
Copiers can follow multiple traders and have several tools to control risk exposure. Once a trader is chosen for copying the amount of time trades are copied (one day, one week etc) is chosen along with a limit on how large each trade will be and how much loss each copied trader is allowed before they are automatically “unfollowed”.
PorterFinance has a number of educational features attractive to new and experienced traders. First the education center is top notch and includes three levels of video courses; introduction, in depth and advanced. The economic calendar is another feature that helps pin point when to trade and not trade, along with helping traders stay up to date with all the latest news. To tie it all together there is an active series of webinars targeted to traders of all skill levels.